RHTLaw Taylor Wessing Head of Regulatory Practice Nizam Ismail shares with Channel NewsAsia how the recent proposal by the Monetary Authority of Singapore (MAS) to support growth of robo-advisory firms are facilitating the entry of more fin-tech firms. The interview was featured on the Singapore Tonight segment on 7 June 2017.
This interview makes relation to the recent proposal by MAS to facilitate the offering of digital advisory services, while still adhering to the regulatory framework that governs financial advisors and fund managers. MAS recognises that even though there are tools in place to widen investor choices and access to low-cost investment advice, these digital advisory tools are susceptible to new technology risks such as wrong algorithms and cyber threats. Nizam commented, “These platforms seek to offer services that are either more cost efficient, more transparent, more customer-focused so you can invest on your smartphones, on your tablets, on your laptops. Also, the minimum investment amounts could be a lot smaller than traditional ways of investing.”
Please watch the video for the full interview.
RHTLaw Taylor Wessing Head of Regulatory Practice Nizam Ismail was quoted in an article published in Reuters titled “Singapore fines Credit Suisse, UOB over 1MDB-linked dealings, wraps up review”.
The article was first published in Reuters on 30 May 2017.
The article discussed about the fines imposed by Singapore’s central bank on Credit Suisse and United Overseas Bank for breaching anti-money laundering rules in transactions related to Malaysia's 1MDB scandal. Nizam commented, “While the fines imposed on UOB and Credit Suisse may appear low relative to the amounts that we see imposed by U.S. and UK regulators, they are substantive by Singapore standards.” He went on to share that “the presence of financial crimes is a reality and occupational hazard of major international financial centers. But when they are detected, the enforcement is robust and extensive - which is what MAS has done”.
The full article dated Tuesday 30 May 2017 can be found in Reuters.
RHTLaw Taylor Wessing emerged as a winner of the "CSR – Editor’s Award" at the 5th WealthBriefingAsia Awards.
We are honoured to be the only firm nominated in this category. The triumph marks another milestone for the Firm and RHT Rajan Menon Foundation to be recognised as a corporate citizen and a leader in this space.
The awards night on 1 June 2017 was held at the prestigious Westin Hotel in Singapore.
RHTLaw Taylor Wessing has also been shortlisted by WealthBriefingAsia Singapore Awards 2017 in the categories of:
Legal Team - South-East Asia
Wealth Planning Team - South-East Asia
Philanthropy Offering/Initiative of the Year